[Podcast] 10 Things your Banker won’t tell you, but you Really Should Know | When am I too old to invest?

[Podcast] 10 Things your Banker won’t tell you, but you Really Should Know | When am I too old to invest?

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You’ve probably heard me say that I believe that property investment is a game of finance - with some houses thrown in the middle. My59b

Well, in today’s episode I’m going to tell you 10 things your banker won’t tell you, but that you really must know to become a successful property investor.

Then Ken Raiss answers a listener’s question about whether you’re ever too old to invest.

And even if you're not wondering if you're too old to invest, there are some great lessons in my chat with Ken.

10 things your banker won’t tell you:

  1. Bankers can only offer you limited options – they won’t tell you what other banks are offering, even if another bank has an option that’s better for you
  2. Bankers are salespeople – it’s their job to sell you financial products Hands of businessman
  3. There are three doors into the bank: the retail door, the business branch, and the institutional branches
  4. Mortgage rates are negotiable
  5. An offset account is often better for you than a term deposit
  6. Bank fees make a lot of money for the banks
  7. Some fees can be waived – but you have to ask
  8. Bankers aren’t financial advisors
  9. The system will decide on your loan application
  10. You should shop around for the financial products that best suit your needs

The 3 Stages of Financial Freedom

Phase 1 – Accumulation. Investing doesn’t give you cash flow right away, so you need time to develop your asset base.

Phase 2: – Consolidation. You slowly reduce your debt, increasing your cash flow

Phase 3 – Living off of your cash machine

Links and Resources:

Michael Yardney


Ken Raiis – Metropole Wealth Advisory   

Michael Yardney’s Mentorship Program

Some of our favourite quotes from the show:  light-bulb-with-drawing-graph_1232-2775

“Get a good team of people around you. It’s really too hard to do it on your own.” – Michael Yardney

“Finance is the key to getting involved in renovation and development.” – Michael Yardney

“When people haven't invested by the time they get to their 50s or 60s, deep down they are probably holding themselves back because of a concern with risk or a concern with debt.” – Michael Yardney


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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.


There's supposed to be a softening of the housing market but a review of the ads appears to show little availability right now. Let's remember our prolific species doubles its numbers every 30 years and few have 'sleeping rough' as a goal in life.

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